Reuters published on 19 December 2023 an article titled "How Houthi Attacks in the Red Sea Impact Shipping in the Suez Canal" by Ahmad Ghaddar.
About 9 percent of global oil demand and 4 percent of global LNG imports pass through the Suez Canal and Red Sea while about 15 percent of world shipping goes through the Red Sea. More large shipping companies are pausing passage through the Suez Canal and Red Sea in order to avoid attacks on commercial shipping by Iranian-backed Houthis in Yemen. This is driving up insurance rates and adding about 2 weeks of sailing time to those ships that are now using the route around the Cape of Good Hope.
